LOOK: From Birkins to Bordeaux: what the wealthy can't resist on holiday
If money was not an option, what would be the ultimate purchase you make when on holiday abroad?
A new study reveals the spending habits of wealthy individuals capturing their preferences and desires.
The study by online gift store, Judaica WebStore sheds light on the luxurious purchases by affluent travellers, delving into the types of items that attract their substantial spending and the prime destinations where these purchases are made.
It covers everything from custom jewellery to gourmet ingredients, providing a comprehensive look into the high-end market catering to the elite.
Custom jewellery
Ranked among the most coveted materials, custom jewellery sees average prices ranging from $5,000 (about R93k) to $150,000 (about R2m).
Major cities known for their bespoke offerings include New York, Dubai and Paris.
In New York City, affluent visitors flock to Tiffany & Co. for unique engagement rings and personalised pieces while Paris, a haven for elegance, boasts luxury maisons such as Van Cleef & Arpels and Cartier.
Fine art
As an investment of both passion and prestige, fine art remains a popular choice among the wealthy, with average price points stretching from $10,000 (about R18k) to a whopping $1,000,000 (about R18m).
Major art capitals like Paris, Florence and New York stand out as prime destinations.
Limited-edition handbags
Fashion takes centre stage with limited-edition handbags, drawing wealthy individuals to hubs like Paris, Milan and Tokyo.
The Hermès Birkin bag dominates Paris's luxury landscape, while Gucci and Prada dominate in Milan.
Prices for these coveted handbags align with luxury branding, ranging from $1,500 (about R27k) to an astounding $150,000 about (R279k).
Culinary treasures
For gastronomes, the allure of exotic spices and gourmet ingredients beckons from Morocco, India and Italy.
Fragrant spices like ultra-rare saffron or gourmet white truffles top the list and sell between $50 (about R900) to $1,000 (R18k).
Perfumes
Perfume remains a timelessly luxurious purchase, with Paris and Grasse taking the lead as preferred shopping locales.
Prices can vary significantly, from $500 (about R9k) for niche options to $10,000 (R180k) for exclusivity.
Luxury wines and spirits
For supreme connoisseurs, Bordeaux, France stands as the quintessential destination for luxury wines.
In the world of whisky, Scotland entices collectors searching for rare Scotch whiskies exclusive to the region.
Wine and spirits prices range from a mere $50 (R900) to a lavish $10,000 (about R18k), reflecting the high demand in fine dining and entertaining.
Luxury watches
Luxury watches, an enduring symbol of wealth and taste, have found fertile ground in Geneva and Zurich, where prestigious brands like Rolex and Patek Philippe draw avid collectors.
Prices range from $5,000 (about R93k) to $1,000,000 (R18m).